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whistle Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jun-11-05 07:16 AM
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The BushCo and Republican spin doctors would like everyone
...to believe that they are doing such a wonderful job managing the economy, but it is all Bushit!

Todays DU cover story says in all:

<snip>
The Economy Turned the Corner and Is Headed in the Wrong Direction

June 11, 2005
By Gene C. Gerard

Throughout the presidential campaign last fall, one of Mr. Bushs favorite stump lines was The economy has turned the corner. Presumably, this was the best (and, no doubt, the simplest) line that Karl Rove and Karen Hughes could craft for the president to reassure the nation that our economic woes were behind us. However, various reports released recently, as well as a comprehensive survey of Americas concerns, suggests that if the economy did turn the corner, its made a u-turn.

On May 19, the Pew Research Center released the results of their national survey of the nations mood. The survey demonstrated that 65% of the country is dissatisfied with how Mr. Bush is handling the economy. Only one in three believe the national economy is in good shape. The percentage of Americans rating their own financial situation positively has declined from 51 percent, when the president was inaugurated in January, down to 44 percent. And only 18 percent of Americans believe economic conditions a year from now will be better than they are today.

Theres plenty for people to feel glum about. The construction of new housing plummeted in March by 18 percent, the largest decline in housing starts in fourteen years. In April, the Commerce Department estimated the gross domestic product grew at an annual rate of 3.1 percent for the first quarter of the year. This was the slowest pace of growth since the first quarter of 2003. And consumer confidence declined for the third month in a row, down to its lowest point since last fall.

The Pew survey revealed that the portion of Americans who say its difficult to find jobs in their community is 60 percent. A year ago it was 55 percent. The most recent labor reports reflect the reality of the job market. Last week, the Labor Department announced that employers added only 78,000 jobs in May. This was the smallest monthly jobs growth since August 2003. Ashraf Laidi, the chief analyst for MG Financial Group, warned, Todays disappointing labor report supports the notion that the emerging soft patch in the U.S. economy is here to stay.

<more>
<link> http://www.democraticunderground.com/articles/05/06/11_...
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